BOYNTON BEACH, Fla. (CBS12) — A man from Boynton Beach is accused of stealing thousands of dollars from his child’s college fund.
The Palm Beach County Sheriff’s Office arrested 50-year-old Steven Eidelkind earlier this month on charges of grand theft over $20,000.
The investigation into the theft began last November when a manager of a prepaid account with Intuition College Savings Solutions, LLC., noticed a number of suspicious withdrawals.
According to the arrest report Eidelkind made four unauthorized withdrawals in 2019 for more than $86,000. A fifth withdrawal for another $10,215 never went through. Intuition ended up paying another $6,700 in gains and losses, so it suffered a total loss of more than $92,000.
According to investigators, Eidelkind’s ex-wife had control over the account.
Eidelkind, according to the report, admitted to logging into the account to withdraw the money.
Investigators said none of the money went to pay for his son’s education. Instead, the money went to pay Eidelkind’s credit card bills.
Eidelkind is free on bond.
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